New York Times Won't Go Way of Dow Jones

"Only the trustees of the Ochs-Sulzberger family have the ability to change [the company's corporate structure], and we are unanimous in our commitment to retain it," Sulzberger said at the meeting.

Dorfman says that unlike the Bancrofts, the Sulzbergers would "move heaven and Earth" to stay in control of New York Times, but he is doubtful that they'll be able to retain control over it as a public company if business troubles continue.

"If they see the handwriting on the wall, they will move to finance a buyout of the company and take it private themselves," says Dorfman. "But if that happens, other buyers could try to make offers for it that they can't compete with, and there could be a nasty showdown with shareholders. Either way, it all bodes well for the stock price."